Cloud data backup and recovery startup Clumio secures $75M

Clumio, a player in cloud data backup and recovery services, has recently secured $75M during its Series D funding round.

• Revenue Surge: Demonstrating their robust growth trajectory, Clumio, founded by Poojan Kumar, Woon Ho Jung and Kaustubh Patil, boasts a quadrupling of their ARR, partially fueled by onboarding significant clients like Atlassian for their Jira software cloud backup needs.

• Investor Details: Sutter Hill Ventures took the helm in Clumio’s Series D, with Index Ventures, Altimeter Capital, and NewView Capital also placing their bets on Clumio's indispensable technology.

• Market Pain Points: Amidst the escalating threats of ransomware and the fresh memories of disasters like the OVH data center fire, businesses are in need of resilient data protection strategies. Clumio offers solutions that safeguard critical data against a gamut of emerging cyber threats.

• Regulatory Compliance and AI Scrutiny: Clumio's services empower companies to comply with such mandates, while also addressing the transparency required in the burgeoning field of generative AI.

• Architected for Adaptability: While the platform initially catered to Amazon's cloud infrastructure, Clumio's design facilitates expansion to multiple cloud environments, signaling a broader market scope and adaptability to diverse customer needs.

Despite a gloomier economic climate and the shift from a 'grow-at-all-costs' to a 'responsible growth' mindset, Clumio’s substantial funding round reflects confidence in their strategic vision and planned expansion.